Rallybio’s (RLYB) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Rallybio (NASDAQ:RLYB) in a report released on Friday,Benzinga reports. They currently have a $5.00 price target on the stock.

Separately, Evercore ISI reaffirmed an “outperform” rating and set a $15.00 price target on shares of Rallybio in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

Rallybio Stock Performance

Shares of Rallybio stock opened at $1.05 on Friday. The stock has a market cap of $43.56 million, a price-to-earnings ratio of -0.66 and a beta of -1.67. The stock has a 50 day moving average price of $1.06 and a 200-day moving average price of $1.26. Rallybio has a one year low of $0.95 and a one year high of $3.46.

Institutional Trading of Rallybio

Several institutional investors and hedge funds have recently made changes to their positions in RLYB. Johnson & Johnson purchased a new position in Rallybio in the 2nd quarter worth about $4,873,000. FMR LLC increased its position in shares of Rallybio by 1.1% during the third quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after acquiring an additional 25,422 shares during the period. Vanguard Group Inc. increased its position in shares of Rallybio by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after acquiring an additional 12,801 shares during the period. Geode Capital Management LLC raised its stake in shares of Rallybio by 11.4% during the third quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after acquiring an additional 24,980 shares in the last quarter. Finally, Almitas Capital LLC purchased a new stake in shares of Rallybio in the second quarter valued at approximately $135,000. 90.34% of the stock is currently owned by institutional investors.

Rallybio Company Profile

Rallybio Corporation, a clinical-stage biotechnology company, engages in development and commercialization of life-transforming therapies for patients suffering from severe and rare diseases. Its lead product candidate is RLYB212, a monoclonal anti-HPA-1a antibody that has completed Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT); and RLYB211 for the prevention of FNAIT.